Diversified Trust Co Raises Stock Holdings in General Motors (NYSE:GM)

Diversified Trust Co boosted its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 24.5% in the second quarter, Holdings Channel reports. The institutional investor owned 47,820 shares of the auto manufacturer’s stock after purchasing an additional 9,407 shares during the period. Diversified Trust Co’s holdings in General Motors were worth $2,222,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of General Motors in the fourth quarter worth approximately $602,280,000. Capital World Investors grew its position in shares of General Motors by 14.6% during the 1st quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock valued at $2,211,609,000 after acquiring an additional 6,201,777 shares during the period. Swedbank AB purchased a new stake in shares of General Motors in the 1st quarter worth $159,750,000. Hotchkis & Wiley Capital Management LLC lifted its position in General Motors by 21.9% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock valued at $650,062,000 after purchasing an additional 3,247,050 shares in the last quarter. Finally, Putnam Investments LLC grew its holdings in General Motors by 16.8% during the fourth quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock valued at $726,942,000 after purchasing an additional 2,905,689 shares during the period. 92.67% of the stock is owned by institutional investors.

General Motors Stock Up 0.8 %

General Motors stock traded up $0.35 during midday trading on Wednesday, hitting $43.67. 1,077,391 shares of the company’s stock were exchanged, compared to its average volume of 15,831,577. The firm has a 50-day moving average of $46.09 and a two-hundred day moving average of $43.68. General Motors has a 12 month low of $26.30 and a 12 month high of $50.50. The company has a market cap of $49.83 billion, a PE ratio of 5.30, a P/E/G ratio of 0.44 and a beta of 1.43. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.67 by $0.39. The company had revenue of $47.97 billion during the quarter, compared to the consensus estimate of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. General Motors’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.91 earnings per share. As a group, analysts expect that General Motors will post 9.94 earnings per share for the current fiscal year.

General Motors announced that its Board of Directors has approved a share repurchase program on Tuesday, June 11th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to buy up to 10.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, September 6th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Friday, September 6th. General Motors’s dividend payout ratio is currently 5.87%.

Insider Transactions at General Motors

In other General Motors news, CEO Mary T. Barra sold 626,316 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total value of $27,219,693.36. Following the completion of the sale, the chief executive officer now owns 1,198,648 shares of the company’s stock, valued at $52,093,242.08. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Mary T. Barra sold 626,316 shares of General Motors stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the completion of the sale, the chief executive officer now directly owns 1,198,648 shares in the company, valued at $52,093,242.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Paul A. Jacobson bought 25,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the transaction, the chief financial officer now owns 261,872 shares in the company, valued at $11,551,173.92. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 1,152,621 shares of company stock valued at $51,818,111. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GM. Deutsche Bank Aktiengesellschaft lifted their price objective on General Motors from $44.00 to $50.00 and gave the company a “hold” rating in a research report on Tuesday, April 23rd. UBS Group lifted their price target on shares of General Motors from $61.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Bank of America restated a “buy” rating and set a $75.00 price objective on shares of General Motors in a research report on Wednesday, June 12th. Morgan Stanley downgraded General Motors from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $46.00 to $47.00 in a research report on Wednesday, July 24th. Finally, Piper Sandler increased their price objective on shares of General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.17.

About General Motors

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.